AUDITORS, CREDIT REPAIR, LOAN MODIFICATION ETC.

For the most part they are operating either illegally or unethically but there are an increasing number of firms that are playing by the rules and actually helping their clients.

beware-of-credit-repair-firms-but-dont-throw-the-baby-out-with-the-bathwater

DISCLOSURE:

I must disclose both an agenda and an interest here. Having been disappointed by the results or conduct of many supposed “audit” or loss mitigation or loan modification firms, either because they gave out bad advice, were engaged in the unauthorized practice of law, or their work product was poor or insufficient, I took the pieces from the public domain and put them together into one plan of action. THEN gave them to my good friend Brad Keiser with a request that he create a central point for those people who wish to receive referrals from us and to create a team of people who would create a product that included all the elements that I think are necessary. So when you go to “In Trouble Now?” you will get to one of our volunteers and probably be screened by Brad.

RIGHT NOW, THE ONLY WORK PRODUCT APPROVED BY ME AS COMPLETE IS THE ONE COMING FROM THE TEAM BRAD BROUGHT TOGETHER UNDER THE NAME FORECLOSURE DEFENSE GROUP. HOWEVER, THE ABSENCE OF OTHER NAMES DOES NOT MEAN THEY DON’T DO GOOD WORK. IT ONLY MEANS THEY DON’T DO EVERYTHING I BELIEVE SHOULD BE PART OF THE FINAL WORK PRODUCT.

I DO HAVE A FINANCIAL INTEREST IN THE GROUP BRAD HAS ASSEMBLED. ONE OF THE WAYS YOU CAN SUPPORT THIS BLOG AND THE REST OF OUR EFFORTS IS TO USE FDG SERVICES. But we are NOT the only game in town and you are free to use whoever you want and still get help from us.

That said, we are hopeful of adding other groups that will do the work. Here is a partial checklist of the work involved. We have commoditized it so that instead of costing many thousands of dollars it can be done for a fraction of the price of hiring the professionals separately — BUT the result is a work product that does not purport to be a full forensic audit — just enough information an the opinion of experts, on the violations of statute and common law, ownership of the mortgage and note, and this is based upon the information received and what we are able to find without in depth research on each lender.

If you want to be certified by the Foreclosure Defense Institute to be a vendor that performs audits etc. you must be familiar the differences, between lender, servicer, pool trustee, mortgage broker, mortgage originator, depositor, appraiser, mortgage aggregator, investment banker, special purpose vehicle and have available expertise on your team with the following:

1. TILA

2. RESPA

3. HOEPA

4. Appraisal Fraud and its effect on APR

5. Securitization and its effect on ownership of the note

6. Qualified Written Request — see our blog entries

7. Rescission — 3-day, extended 3 year, fraud, common law.

8. Usury and legal limit on interest rates and exemptions

9. Table Funded Loans and finding the holder in due course.

10. Evaluation of results by an attorney, demand letters, and follow up by qualified group to negotiate with the “lender” or “servicer.”

As soon as we have qualifiled additional firms, they will appear here without guarantee just like everything else on this blog.

Tags: audit, CREDIT REPAIR, evaluation, mortgage modification, tile
Posted in Eviction |